08 Apr Northern Arizona Housing Market Update – Spring 2025
Welcome to the Spring 2025 edition of our housing market trends report for Northern Arizona. As of February 2025, the real estate landscape in our region shows a mix of stability and change. This data, courtesy of Redfin, provides a snapshot of the market dynamics in Flagstaff, Sedona, Prescott, and Lake Havasu City.
Flagstaff
- Median Home Price: $653K, down 1.1% compared to last year.
- Days on Market: 62 days, up from 58 days last year.
- Sales Volume: 51 homes sold in February 2025, down from 54 in February 2024.
Flagstaff’s housing market remains relatively stable with a slight decrease in median home prices and a minor increase in the days homes spend on the market. The reduction in sales volume suggests a cautious buyer market, possibly influenced by economic factors or seasonal variations.
Prescott
- Median Home Price: $551K, down 11.6% compared to last year.
- Days on Market: 82 days, up from 78 days last year.
- Sales Volume: 73 homes sold in February 2025, up from 72 in February 2024.
Prescott experienced a notable decline in median home prices, coupled with an increase in the time it takes to sell a home. Despite this, the sales volume remained steady, indicating a balanced market with potential opportunities for buyers.
Sedona
- Median Home Price: $905K, up 13.9% compared to last year.
- Days on Market: 67 days, up from 52 days last year.
- Sales Volume: 18 homes sold in February 2025, down from 19 in February 2024.
Sedona’s market saw a significant increase in median home prices, reflecting its continued appeal as a desirable location. The increase in days on the market and the slight drop in sales volume suggest a more competitive environment for sellers.
Lake Havasu City
- Median Home Price: $520K, up 15.5% compared to last year.
- Days on Market: 67 days, up from 54 days last year.
- Sales Volume: 102 homes sold in February 2025, down from 111 in February 2024.
Havasu City’s housing market is robust, with a substantial increase in median home prices. The increase in days on the market and the slight decrease in sales volume indicate a market that is adjusting to higher price points.
Overall Analysis
The Northern Arizona housing market in Spring 2025 presents a diverse picture. Flagstaff and Prescott have seen decreases in median home prices, while Sedona and Lake Havasu City have experienced significant increases. The days on the market have generally increased across all cities, suggesting a slight slowdown in sales velocity. Sales volumes have varied, with some cities like Prescott seeing a slight increase and others like Lake Havasu City experiencing a decrease.
Despite these differences, there are common threads: all cities have seen changes in the time it takes to sell a home, and there is a general trend of market adjustment. Buyers and sellers alike need to be strategic, leveraging local expertise to navigate these nuances.
For a more detailed analysis and hyper-local information, we invite you to reach out to The COLLINS TEAM at Realty ONE Group Mountain Desert. Our expertise and deep understanding of the Northern Arizona real estate market can help you make informed decisions whether you are buying, selling, or investing. Contact us today to stay ahead in the ever-changing housing market.